BUSINESS BRIEFS
Bankoh executive stepping down
Advertiser Staff and News Services
Bank of Hawaii Corp. said Brian T. Stewart is resigning his post as executive vice president, controller and principal accounting officer as of Dec. 5.
It said Kent T. Lucien will take on Stewart's responsibilities until a successor is named. Lucien is the bank's vice chairman and chief financial officer.
The bank did not list a reason for Stewart's resignation, only announcing in a regulatory filing that he was stepping down.
Stewart was named executive vice president and controller at the bank in April 2004.
NATIONAL NEWS BOOSTS ISLE STOCKS
Hawai'i stocks have mostly rebounded off last Thursday's lows as markets rallied on news of President-elect Barack Obama's choice to head the U.S. Department of Treasury and then the weekend news of a bailout for troubled Citigroup Inc.
As measured by the Honolulu Advertiser-Bloomberg Hawai'i index, the shares jumped 10 percent, rising from an all-time closing low of 54.47 to 60.01 yesterday.
The gains were led by Central Pacific Financial in yesterday's trading. It rose $1.90 to $12.39 a share, or an 18 percent increase.
Hawaiian Holdings, the parent of Hawaiian Airlines, surged 59 cents, or 16 percent, to close at $4.20. Maui Land & Pineapple was up $1.15 to $10.90.
ML MACADAMIA NOW UNDER NNUT
ML Macadamia Orchards LP said its shares will start trading on the OTCQX trading medium today after moving off the New York Stock Exchange at the close of trading yesterday.
The Hilo, Hawai'i-based company said it will trade under the NNUT ticker symbol. The change in trading exchanges occurred when ML Macadamia's wasn't able to meet the NYSE's average market capitalization of $25 million.
SOUL DE CUBA PLANS FRANCHISES
The owners of Soul de Cuba, a 2-year-old Cuban restaurant in Downtown Honolulu, are seeking to expand the business into a chain through franchising.
The Honolulu restaurant at 1121 Bethel St. is one of two locations for Soul de Cuba, which was founded in New Haven, Conn., in 2005 .
Soul de Cuba, which features traditional Cuban and African food, was assisted by franchise industry consultant Francorp in developing a franchise program.
The restaurant is looking to open 10 franchise locations in Hawai'i, including on O'ahu and the Neighbor Islands, and others in parts of the Northeast and West Coast, and Mexico.
CRAZY SHIRTS DEBUTS OBAMA TEE
Crazy Shirts is the latest Hawai'i-based business to commemorate Barack Obama's election with something in its product line.
The 'Aiea-based company has debuted a $25 T-shirt that includes a picture of a wave emblazoned with the writing "OBAMA SURFS" on the back of the shirt.
The front of the shirt includes the phrase "Life, Liberty and the Pursuit of Happiness. President Obama 2009" along with a picture of a bodysurfer and the Hawaiian Island chain.
"We think it's really cool that our next president is a kama'aina and wanted to commemorate this moment in history with a special design," said Crazy Shirts chief executive officer Mark Hollander.
Crazy Shirts said the T-shirt is available at selected stores in Hawai'i and at stores in Laguna Beach, Calif., and San Diego, as well as online.
